(Reuters) – On Thursday, a filing in Seattle federal court revealed that Bittrex has agreed to pay $24 million to settle claims made by the U.S. Securities and Exchange Commission (SEC). The SEC alleged that the cryptocurrency exchange failed to register with the agency.
In April, the SEC filed a lawsuit against Bittrex Inc and its former CEO William Shihara, accusing them of operating an unregistered national securities exchange, broker, and clearing agency. Furthermore, the SEC claimed that Bittrex Global GmbH failed to register as a national securities exchange while operating a shared order book alongside Bittrex.
As part of the settlement, both companies and Shihara have agreed to an order that will bar them from violating U.S. securities laws. However, they have not admitted to the SEC’s allegations.
At the time of writing, spokespersons for the SEC and Bittrex have not responded to requests for comment.
(Reporting by Jody Godoy, Editing by Chris Reese)
Credit: The Star : Tech Feed
